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EasyHook - The reinvention of Windows API Hooking
SpyStudio - SpyStudio is the best product to trace user-mode API calls on Windows.
Microsoft Research Detours - Detours is a software package for re-routing Win32 APIs underneath applications.
Process Monitor - Monitor file system, Registry, process, thread and DLL activity in real-time.
Deviare API Hook - Deviare is a professional open source hooking engine for instrumenting arbitrary Win32 functions, COM objects, and functions which symbols are located in program databases (PDBs).
API Monitor - API Monitor is a software that monitors and displays API calls made by applications and services. Its a powerful tool for seeing how Windows and other applications work or tracking down problems that you have in your own applications